India signs US $100 mn loan agreement with World Bank

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India signs loan agreement with World Bank for US $100 mn

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Updated

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24 May 2016,

7:46 pm

Bengaluru: An agreement for an IBRD loan of US $100 million was signed between the Government of India and the World Bank on Tuesday. This loan is meant for the Karnataka Urban Water Supply Modernization project.

The government has initiated this step with an objective to avail city-wide piped water to the state of Karnataka and to strengthen the service delivery arrangements at the city level. Karnataka Urban Infrastructure Development and Finance Corporation (KUIDFC) is the implementing agency for the project.

According to reports, the project will be implemented over a period of 6 years in the cities of Hubballi and Dharwad. However, the project will later be expanded to other eligible cities too.